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CommerzVentures invests $39 million in social trading network eToro

Apr 20 2015
By
Forexbrokerz.com
CommerzVentures GmbH, the Corporate Venture Capital subsidiary of Commerzbank launched approximately six months ago, has made its first investment in a fintech company.
 
It joined the venture arms of Sberbank and Ping An as a follower investor in the Series D financing of the social investment platform eToro Group Ltd.
 
The total investment volume raised among the investors amounted to USD 39 million. It includes a credit line of $10 Million by Silicon Valley Bank.
 
eToro Group Ltd. was founded in 2007 by brothers Yoni and Ronen Assia. Back then, retail investment was an activity made accessible only to a few investors, while most people remained distant from finance and investing. As a trader himself, Yoni Assia sought out to create a platform that will enable his friends and family to enjoy the same passion he had for finance. At first, this vision of opening up the global markets to everyone led the brothers to create a simple and intuitive platform for traders that had an instant chat feature. With the rise of social networks around them, the brothers quickly witnessed how the chat functionality quickly became the main feature of their platform, thus, leading them to introduce a social investment network in which every member can see, follow and even copy other members activities and portfolios.  Eight years later, eToro is today the world’s leading social investment network with over 4 million clients worldwide. The company offers hundreds of CFDs on currencies, stocks, indices, and commodities, as well as copying Popular Investors, who operate on the platform as a new revolutionary investment asset.
 
Says Yoni Assia, eToro’s Co-Founder and CEO;
 
 “These are truly exciting times for us at eToro as new partners begin to share in our vision of recreating personal finance. The new funds raised will help us scale globally and grow faster than ever before. With new offices opened and others soon to follow, we will continue to dominate the field of social trading. Later this year, we are planning to introduce a completely new platform alongside our revamped Popular Investors program. The program gives traders the opportunity to earn a monthly income from trading and being copied by others on our platform”.
 
Stefan Tirtey, co-managing director of CommerzVentures says;
 
“At CommerzVentures we want to work with the best entrepreneurs who can articulate why they can dominate a given market segment. eToro is a perfect fit as it has firmly established itself as the leader in social trading and as it is run by ambitious and very talented management.”
TAGS: CommerzVentures  Commerzbank  investment  social trading 

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